"And when everything begins to look alike, consumers can become disenchanted.
In fact, most retail stores, and that includes apparel stores, are small, both in size and in sales volume, compared to a Gap or Old Navy.
The typical apparel store is a small operation, usually run by the owner alone or by a husband-and-wife team. Maybe you've taken those merchandising classes; maybe you've watched your father, mother or grandparents run a business; maybe you spent a summer selling makeup over the counter at Macy's.
"Nothing is sure-fire, and there are risks attached to starting any kind of business," says Fred Derring, president and owner of D. Even in the restaurant business--if you're successful--you can make more money in five years than you can in 15 years in the apparel business." 3. On a serious note, you really need to think about why you've decided to open an apparel store vs. But there always seems to be room for more, particularly if you're offering consumers something they feel they're lacking. Maybe it's surf clothes; maybe it's chic plus-size fashions; maybe it's leather and jewelry imported from Turkey. Outfitters in New York City, says, "No apparel store should be stocking twill khaki shorts if there's a Gap within 10 miles." 6. In a word, this is called "marketing." For now, hear this collective quote culled from every apparel entrepreneur interviewed for this business guide: "Today the competition isn't two doors down the block; it's at the local mall.
a homeopathic pharmacy or an organic grocery store. Specializing, or finding your niche in this business, is crucial to your success. People can get everything we sell at their local mall, so we have to set ourselves apart other ways.
Children Cashing in on the baby boomers' baby boomlet of the 1980s and 1990s, the children's apparel market is estimated to account for $20 billion to $22 billion in sales every year and is considered among the fastest-growing segments of the overall retail market.
Even though little girls have been known to throw temper tantrums when they're forced to wear gingham jumpers to preschool, you're not really targeting kids here.Once you've determined this, you can buy accordingly. Yes, we know that's easier said than done, and it really depends on where you're going to open your store, as Danus notes."' What do I have that will entice a woman into my store? "There's a huge difference in consumer mentality across the country, and I'd advise a store owner in Duluth much differently from one in Los Angeles." Men The typical male customer is between 18 and 40 years of age, with a smaller percentage in their fifties.If you're in a more flashy nouveau riche area where mothers are driving Jaguars and wearing diamond tennis bracelets, or even one where the women spend 0 on their own designer jeans, that's a market for children's fashionable boutique clothing.Stat Fact The bulk of children's clothing sales--up to 60 percent--comes from those cute matching outfits, like matching top-and-bottom coordinates.Every expert we spoke with agreed that the very first thing a prospective women's apparel retailer must do is decide where the "market-vendor" gaps are.In other words, which customers in the store's trading area will you serve, and what apparel can you provide (and at what price) that can't be found easily elsewhere?If you're serious about opening an apparel store, you need to know that, like the restaurant business, the apparel business is risky.You may pour your life savings into a business that goes bust within a year. Outfitters, a New York City-based apparel marketing and consulting company, "but you've really got to love the clothing business because you can make more money doing almost anything else. All you need to do is save all those catalogs stuffed in your mailbox or visit your local mall on the weekend. If you're opening an apparel store for the right reasons, you probably think you've got the corner on something someone else in your professional community doesn't.Eager to get out of the real estate business and 'spending my Sunday afternoons sitting in other people's homes,' she opened a clothing store in the same downtown building where her husband had a restaurant. We know this fly-by-the-seat-of-your-pants attitude--as well as the notion that K is enough to start a clothing store--goes against our principle of good business acumen, especially today.Minimally most entrepreneurs interviewed for this business guide wouldn't dream of opening a store with less than ,000.